In a news release on Wednesday it was announced that AGCO and The Climate Corporation, a subsidiary of Monsanto Company, have signed a definitive agreement for AGCO to acquire the Precision Planting LLC equipment business. The Climate Corporation terminated a potential acquisition of Precision Planting by John Deere in May.
“The acquisition of Precision Planting will solidify AGCO as one of the global leaders in planting technology and strengthen our position as a full line partner for professional farmers across the globe,” said Martin Richenhagen who is AGCO’s Chairman, President and CEO.
The Climate Corporation’s Climate FieldView digital agriculture platform will retain connectivity with Precision Planting’s 20/20 SeedSense monitor. The terms of the agreement were not disclosed, and the transaction is subject to regulatory approvals. But if approved this is good news for Beloit and NCK as Sunflower sources say the planters will be manufactured in Beloit.